DraftKings Inc. $DKNG Shares Newly Acquired by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,962 shares of the company’s stock, valued at approximately $987,000.

Several other hedge funds have also modified their holdings of DKNG. International Assets Investment Management LLC boosted its holdings in shares of DraftKings by 17.5% in the 3rd quarter. International Assets Investment Management LLC now owns 24,204 shares of the company’s stock valued at $468,000 after buying an additional 3,600 shares in the last quarter. Heritage Family Offices LLP purchased a new position in shares of DraftKings in the 3rd quarter worth approximately $44,000. Integrity Advisory Solutions LLC grew its position in shares of DraftKings by 8.2% in the 3rd quarter. Integrity Advisory Solutions LLC now owns 10,571 shares of the company’s stock worth $201,000 after buying an additional 803 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of DraftKings in the 3rd quarter worth approximately $48,000. Finally, Partners Wealth Management LLC bought a new position in shares of DraftKings during the 3rd quarter worth approximately $239,000. 37.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DKNG. Sanford C. Bernstein decreased their target price on shares of DraftKings from $27.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus downgraded shares of DraftKings from a “buy” rating to a “hold” rating and lowered their target price for the company from $32.00 to $21.00 in a research note on Monday. JPMorgan Chase & Co. lowered shares of DraftKings from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $21.00 in a report on Monday. Bank of America reaffirmed a “buy” rating on shares of DraftKings in a research report on Friday. Finally, Moffett Nathanson reaffirmed a “neutral” rating and set a $22.00 price target on shares of DraftKings in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.61.

DraftKings Stock Performance

Shares of DKNG stock opened at $19.36 on Wednesday. DraftKings Inc. has a fifty-two week low of $16.55 and a fifty-two week high of $36.98. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50-day simple moving average is $21.28 and its 200-day simple moving average is $23.93.

DraftKings (NASDAQ:DKNG) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.12). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.39 billion. DraftKings had a negative net margin of 5.91% and a negative return on equity of 36.21%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.26) EPS. As a group, sell-side analysts forecast that DraftKings Inc. will post 0.31 EPS for the current year.

Insider Activity at DraftKings

In related news, CFO Alan Ellingson bought 18,908 shares of the company’s stock in a transaction on Monday, November 9th. The shares were bought at an average price of $18.51 per share, with a total value of $349,987.08. Following the transaction, the chief financial officer owned 214,692 shares in the company, valued at approximately $3,973,948.92. This trade represents a 9.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 10,759 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total transaction of $258,753.95. Following the sale, the director directly owned 1,881 shares in the company, valued at approximately $45,238.05. This represents a 85.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is currently owned by insiders.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: CFO Alan Ellingson bought 18,908 shares for about $350,000, increasing his ownership by 9.66%. The insider purchase may signal confidence, though it does not resolve the company’s operating challenges. CFO stock purchase
• Neutral Sentiment: Citigroup lowered its price target to $22 from $28 but retained a Buy rating, indicating continued potential upside in the firm’s view alongside a more cautious valuation. Citigroup rating and target
• Negative Sentiment: DraftKings’ Q3 revenue of $1.33 billion rose 16.2% year over year but missed expectations; its reported loss per share was also wider than analysts expected. The company lowered its 2026 revenue outlook, while increased investment in prediction markets is weighing on profitability and projected EBITDA. Q3 results and outlook
• Negative Sentiment: Analysts have continued to downgrade DraftKings or reduce price targets after the results. Wells Fargo cut its rating to Equal Weight and lowered its target to $21 from $30; Berenberg moved to Hold with a $20 target. The revisions point to reduced confidence in the earnings outlook, with scrutiny of prediction markets adding uncertainty. Analyst downgrades

DraftKings Profile

DraftKings Inc. is a digital sports and entertainment company founded in 2012. It began as a daily fantasy sports platform and has since expanded into online sports betting and gaming. The company offers daily fantasy contests, a sportsbook and online casino products, including games such as slots and table games. Its services are available in a range of U.S. jurisdictions and in Ontario, Canada, where permitted by local regulations. DraftKings is headquartered in Boston, Massachusetts. Co-founder Jason Robins serves as the company’s chief executive officer.